piyush j. shah -...

Piyush J. Shah & Co. Chartered Accountant~

Piyush J. Shah B.Com, FCA, D.l.S.A.(ICA)

Independent Auditors' Report

TO,

The Members of

Mangalam Nutrifeeds Private Limited

Opinion

We have audited the accompanying financia l statements of Mangalam Nutrifeeds Private Limited

("the Company"), which comprise the Balance Sheet as at 31st March, 2019, the Profit and Loss

Statement, the Cash Flow Statement for the Period ended and a summary of significant accounting

policies and other explanatory information.

In our opinion and to the best of our information and according to the explanations given to us, the

aforesaid financial statements give the information required by the Act in the manner so required

and give a true and fair view in conformity with the accounting principles generally accepted in India,

of the state of affairs of the Company as at 31st March, 2019 and its profit and its cash flows for the

year/period ended on that date.

Basis of Our Opinion

We conducted our audit in accordance with the standard on auditing {SAs) specified under section

143(10) of the companies act, 2013. Our responsibilities under those standards are further described

in the auditor's responsibilities for the audit of the financial statements section of our report. We are

independent of the company in accordance with the code ethics issued by the institute of chartered

accountants of India together with ethical requirements that are relevant to our audit of financial

statement under the provisions of the companies act, 2013 and rules there under, and we have

fulfilled our ethical responsibilities in accordance with these requirements and the code of ethics.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis

for our opinion.

Key Audit Matters

Key audit matters are those matters that, in our professional judgment, were of most significance in

our audit of the financial statements of the current period. These matters were addressed in the

context of our audit of the financial statements as a whole, and in forming our opinion thereon, and

we do not provide separate opinion on these matters.

MANAGEMENT'S RESPONSIBILITY FOR THE FINANCIAL STATEMENTS

Your Growth Partner ......... . . /

Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies

(Accounts) Rules, 2014. This responsibility also includes maintenance of adequate accounting

records in accordance with the provisions of the Act for safeguarding the assets of the Company and

for preventing and detecting frauds and other irregularities; selection and application of appropriate

accounting policies; making judgments and estimates that are reasonable and prudent; and design,

implementation and maintenance of adequate internal financial controls, that were operating

effectively for ensuring the accuracy and completeness of the accounting records, relevant to the

preparation and presentation of the financial statements that give a true and fair view and are free

from material misstatement, whether due to fraud or error.

AUDITORS' RESPONSIBILITY

Our responsibility is to express an opinion on these financial statements based on our audit.

We have taken into account the provisions of the Act, the accounting and auditing standards and

matters which are required to be included in the audit report under the provisions of the Act and the

Rules made there under.

We conducted our audit in accordance with the Standards on Auditing specified under Section

143(10) of the Act. Those Standards require that we comply with ethical requirements and plan and

perform the audit to obtain reasonable assurance about whether the financial statements are free

from material misstatements.

An audit involves performing procedures to obtain audit evidence about the amounts and

disclosures in the financial statements. The procedures selected depend on the auditor's judgment,

including the assessment of the risks of material misstatement of the financial statements, whether

due to fraud or error. In making those risk assessments, the auditor considers internal financial

control relevant to the Company's preparation of the financial statements that give a true and fair

view in order to design audit procedures that are appropriate in the circumstances, but not for the

purpose of expressing an opinion on whether the Company has in place an adequate internal

financial controls system over financial reporting and the operating effectiveness of such controls.

An audit also includes evaluating the appropriateness of accounting policies used and the

reasonableness of the accounting estimates made by the Company's directors, as well as evaluating

the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis

for our audit opinion on the financial statements.

REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS

As required by Section 143(3) of the Act, we report that:

a) We have sought and obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purposes of our audit;

b)

c) Not Applicable

d) the balance sheet, the statement of profit and loss dealt with by this Report are in agreement with the books of account;

e) In our opinion, the aforesaid financial statements comply with the Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014;

f) Not Applicable

g) On the basis of the written representations received from the directors as on 315tMarch, 2019, taken on record by the Board of Directors, none of the directors is disqualified as on 315tMarch, 2019, from being appointed as a director in terms of Section 164 (2) of the Act.

h) Not Applicable

i) Not Applicable

j) With respect to the other matters included in the auditor's report and to best of our information and according to the explanation given to us.

1. The company has disclosed the impact of pending lit igation on its financial position in its financial statement, if any.

2. The company has made provision, as required under the applicable law or Accounting Standards, for material foreseeable losses, if any, on long term contracts including derivative contracts.

3. There has been no delay in transferring amounts, required to be transferred, to the investor's education and protection fund by the company, if any.

For Piyush J. Shah & Co.

M. No: 165063

Place: Ahmedabad Date: ogth May, 2019

Annexure -A to the Auditors' Report The Annexure referred to in our Independent Auditors' Report to the members of the Company on

the standalone financial statements for the Period 01-04-2018 to 31-03-2019, we report that:

i) (a) The company does not have any fixed assets, therefore maintenance of proper records showing full particulars, including quantitative details and situation of fixed assets are not required.

(b) Not Applicable

(c) Not Applicable

ii) Not Applicable

iii) The Company had not granted any loans to parties covered in the register maintained under Section 189 of the Companies Act, 2013 ('the Act').

(a) Not Applicable

(b) Not Applicable

(c) Not Applicable

iv) As the company has not granted any loans, investments, guarantees and security therefore compliance w.r.t. provisions of section 185 and 186 of the Companies Act, 2013 not required.

v) The company had not accepted any deposits from public, therefore the directives issued by the Reserve Bank of India and the provisions of sections 73 to 76 or any other relevant provisions of the Companies Act, 2013 and the rules framed there under, is not applicable.

vi) The Central Government has not prescribed the maintenance of cost records under section 148(1) of the Act, for the goods supplied by the Company.

vii) (a) According to the information and explanations given to us and on the basis of our examination of the records of the Company, amounts deducted I accrued in the books of account in respect of undisputed statutory dues including provident fund, income tax, sales tax, wealth tax, service tax, duty of customs, value added tax, cess and other material statutory dues have been regularly deposited during the year by the Company with the appropriate authorities. As explained to us, the Company did not have any dues on account of employees' state insurance and duty of excise.

According to the information and explanations given to us, no undisputed amounts payable in respect of provident fund, income tax, sales tax, wealth tax, service tax, duty of customs, value added tax, cess and other material statutory dues were in arrears as at 31st March, 2019 for a period of more than six monthsfrom the date they became payable.

(b) According to the information and explanations given to us, there are no material dues of wealth tax, duty of customs and cess which have not been deposited with the appropriate authorities on account of any dispute.

viii) The company had not defaulted in repayment of loans or borrowing to a financial institution, bank, Government or dues to debenture holders.

ix) According to the information and explanations given to us the company had not raised any money by way of Initial Public Offer or Further Public Offer and term loans.

x) According to the information and explanations given to us, no material fraud on or by the Company has been noticed or reported during the course of our audit.

xi) According to the information and explanations given to us, managerial remuneration had been paid or provided in accordance with the requisite approvals mandated by the provisions of section 197 read with Schedule V to the Companies Act.

xii) In our opinion the company is not Nidhi company. Therefore the provisions as mentioned in the Nidhi Rules, 2014 are not applicable to the company.

xiii) In our opinion and according to the information and explanations given to us all transactions with the related parties are in compliance with sections 177 and 188 of Companies Act, 2013 where applicable and the details have been disclosed in the Financial Statements etc., as required by the applicable accounting standards.

xiv) According to the information and explanations given to us, the company had not made preferential allotment of shares during the year/period under review and therefore compliance w.r.t. requirement of Section 42 of the Companies Act, 2013 and other applicable provisions does not arise.

xv) According to the information and explanations given to us the company had not entered into any non-cash transactions with directors or persons connected with him.

xvi) In our opinion, the company is not a . Non Banking Finance Company, therefore the requirement to register under section 45-IA of the Reserve Bank of India Act, 1934 in not applicable.


M. No: 165063

Place: Ahmedabad Date: osth May, 2019

Annexure - B to the Auditors' Report

Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section 143 of the

Companies Act, 2013 ("the Act")

We have audited the internal financial controls over financial reporting of Mangalam Nutrifeeds

Private Limited ("the Company") as of 31st March, 2019 in conjunction with our audit of the

standalone financial statements of the Company for the year ended on that date.

Management's Responsibility for Internal Financial Controls

The Company's management is responsible for establishing and maintaining internal financial

controls based on the internal control over financial reporting criteria established by the Company

considering the essential components of internal control stated in the Guidance Note on Audit of

Internal Financial Controls over Financial Reporting issued by the Institute of Chartered Accountants

of India ('ICAI'). These responsibilities include the design, implementation and maintenance of

adequate internal financial controls that were operating effectively for ensuring the orderly and

efficient conduct of its business, including adherence to company's policies, the safeguarding of its

assets, the prevention and detedion of frauds and errors, the accuracy and completeness of the

accounting records, and the timely preparation of reliable financial information, as required under

the Companies Act, 2013.

Auditors' Responsibility

Our responsibility is to express an opinion on the Company's internal financial controls over financial

reporting based on our audit. We conducted our audit in accordance with the Guidance Note on

Audit of Internal Financial Controls over Financial Reporting (the "Guidance Note") and the

Standards on Auditing, issued by ICAI and deemed to be prescribed under section 143(10) of the

Companies Act, 2013, to the extent applicable to an audit of internal financial controls, both

applicable to an audit of Internal Financial Controls and, both issued by the Institute of Chartered

Accountants of India. Those Standards and the Guidance Note require that we comply with ethical

requirements and plan and perform the audit to obtain reasonable assurance about whether

adequate internal financial controls over financial reporting was established and maintained and if

such controls operated effectively in all material respects.

Our audit involves performing procedures to obtain audit evidence about the adequacy of the

internal financial controls system over financial reporting and their operating effectiveness. Our

audit of internal financial controls over financial reporting included obtaining an understanding of

internal financial controls over financial reporting, assessing the risk that a material weakness exists,

and testing and evaluating the design and operating effectiveness of internal control based on the

assessed risk. The procedures selected depend on the auditor's judgment, including the assessment

of the risks of material misstatement of the standalone financial statements, whether due to fraud

or error.

We believe that the audit evidence we have obtained is sufficient and appropriate to prov!de a ~asis

for our audit opinion on the Company's internal financial controls system over financial repor:tif)~,1 ,.; -(: / ... ~ ,, ' ... ~~ .. ,, .. ,,,., .;, ,

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Meaning of Internal Financial Controls over Financial Reporting

A company's internal financial control over financial reporting is a process designed to provide

reasonable assurance regarding the reliability of financial reporting and the preparation of financial

statements for external purposes in accordance .with generally accepted accounting principles. A

company's internal financial control over financial reporting includes those policies and procedures

that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect

the transactions and dispositions of the assets of the company; (2) provide reasonable assurance

that transactions are recorded as necessary to permit preparation of financial statements in

accordance with generally accepted accounting principles, and that receipts and expenditures of the

company are being made only in accordance with authorizations of management and directors of

the company; and (3) provide reasonable assurance regarding prevention or timely detection of

unauthorized acquisition, use, or disposition of the company's assets that could have a material

effect on the financial statements.

Inherent Limitations of Internal Financial Controls Over Financial Reporting

Because of the inherent limitations of internal financial controls over financial reporting, including

the possibility of collusion or improper management override of controls, material misstatements

due to error or fraud may occur and not be detected. Also, projections of any evaluation of the

internal financial controls over financial reporting to future periods are subject to the risk that the

internal financial control over financial reporting may become inadequate because of changes in

conditions, or that the degree of compliance with the policies or procedures may deteriorate.

Opinion

In our opinion, the Company has, in all material respects, an adequate internal financial controls

system over financial reporting and such internal financial controls over financial reporting were

operating effectively as at 31st March, 2019, based on the internal control over financial reporting

criteria established by the Company considering the essential components of internal control stated

in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting issued by the

Institute of Chartered Accountants of India.


Partner

M. No: 165063

Place: Ahmedabad Date: 08th May, 2019


Balance Sheet as at 31st March, 2019

I. EQUITY AND LIABILITIES

1 Shareholders' funds

(a) Share capital

(b) Reserves and surplus

Particulars

2 Share application money pending allotment

3 Non-current liabilities

(a) Long-term borrowings

(b) Deferred tax liability (net)

(c) Long-term provisions

(d) Other Non-current liabilities

4 Current liabilities

(a) Short-term borrowing

(b) Trade payables

A) total outstanding dues of micro and small enterprises

B) total outstanding dues of other than micro and small enterprises

(c) Other current liabilities

(d) Short-term provisions

II. ASSETS

1 Non-current assets

(a) Fixed assets

(i) Tangible assets

(ii) Intangible assets

(iii) Capital work-in-progress

(iv) Intangible assets under development

(b) Non-current Investments

(c) Deferred tax assets (Net)

(d) Long-term loans and advances

(e) Other Non-current Assets

2 Current assets

(a) Inventories

(b) Trade receivables

(c) Cash and cash equivalents

(d) Short-term loans and advances

(e) Other current assets

Summary of significant accounting policies

The accompanying notes are an integral part of the financial statements.

As per our report of even date

Place : Ahmedabad

Date : OSth May, 2019

Note AMOUNT IN f

AMOUNT IN f

31-Mar-2019 31-Mar-2018

02

03

04

05

06

07

08

09

10

11

1to21

100,000

(281,443)

(181,443)

1,027,330

1,027,330

609,935

360,000

12,280

982,215

1,828,102

958,346

504,702

358,190

6,864

1,828,102

1,828,102

Shri Pravinkumar M. Patel

Director

DIN - 03173769

100,000

(302,176)

(202,176)

1,027,330

1,027,330

609,935

247,965

857,900

1,683,054

1,427,406

107,622

99,226

48,800

1,683,054

1,683,054

Limited

< -

Shri Mafatlal J. Patel rV Director rV) DIN - 03173737 ·. I I

~ ,.


Profit and loss statement for the year ended 31st March, 2019 Particulars Note AMOUNT IN AMOUNT IN

~ ~

31-Mar-2019 31-Mar-2018 I. Revenue From Operations 12 631,807 72,900

II. Other Income 13 56 12,916

Ill. Total Revenue (I + II) 631,863 85,816

IV. Expenses:

Purchase of Stock In Trade 14 163,438 Changes in Inventories 15 469,060 (152,418)

Finance Cost 16 460

Employee Benefit Expenses

Other Expenses 17 134,790 228,716

Total Expenses 603,850 240,196

V. Profit before exceptional and extraordinary items 28,013 (154,380)

VI. Exceptional items

VII. Profit before extraordinary items and tax (V - VI) 28,013 (154,380)

VIII. Extraordinary Items

IX. Profit before tax (VII- VIII) 28,013 (154,380)

X Tax expense:

i) Current Tax 7,280

XI Profit (Loss) for the period 20,733 (154,380)

XII Earnings per equity share: 20

(1) Basic 2.07 (15.44)

(2) Diluted 2.07 (15.44)

Summary of significant accounting policies 1to21

The accompanying notes are an integral part of the financial statements.

As per our report of even date


Partner

M.No. 165063

Place : Ahmedabad

Date : 08th May, 2019


Director

DIN - 03173769

Shri Mafatlal J. Patel

'

<VJ~ Director

DIN - 03173737

Mangalam Nutrifeeds Private Limited Cash Flow Statement for the Year 2018-19

PARTICULARS

Cash flow from operating activities: Net profit before tax as per statement of profit and loss Adjusted For:

Interest & finance costs

Operating cash flow before working capital changes

Adjusted For:

(Increase)/ decrease in Inventories

(Increase)/ decrease in Trade Receivables

Increase/ (decrease) in Trade Payables

Increase/ (decrease) in Other Current Liabilities

Increase/ (decrease) in Short Term Provisions

Cash generated from/ (used in) operations

Income taxes paid

Net cash generated from/ (used in) operating activities

Cash flow from investing activities:

Investment in Security Deposits of VAT & CST

Net cash flow from/(used) in investing activities

Cash flow from financing activities:

Proceeds from Long-term borrowing

Proceeds from Short-term borrowing

Proceeds from Loans and Advances

Proceeds from Issue of Shares

Interest & finance costs

Net cash flow from/( used in) financing activities

Net increase/(decrease) in cash & cash equivalents [A+B+C]

Cash & cash equivalents as at beginning of the year

[A]

[B]

[C]

Cash & cash equivalents as at end of the year [Refer Note No.10]


Place : Ahmedabad


AMOUNT IN

~

31-Mar-2019

20,733

20,733

•469,060

(397,080)

112,035

12,280

217,028

217,028

41,936

41,936

258,964

99,226

358,190


Director

DIN - 03173769

AMOUNT IN

f 31-Mar-2018

(154,380)

460 (153,920)

(152,418)

108,652

(9,285)

120,000 (9,919)

(96,890)

(96,890)

87,540

(28,800)

(460)

58,280

(38,610)

137,836

99,226

~ N

Shri Mafatlal J. Patel o/)~ Director

DIN - 03173737


NOTE - 1 SIGNIFICANT ACCOUNTING POLICIES

1. Basis of Accounting Policy

The Financia l statements are prepared under historical cost convention on an accrual basis and comply with the accounting

standards referred to in Section 133 of the Companies Act, 2013.

2. Use of Estimates

The Preparation of Financial Statements requires estimates and assumptions to be made that affect the reported amount

of assets and liabilities on the date of financial statements and the reported amount of revenues and expenses during the

reporting period. Difference between the actual results and estimates are recognised in the period in which the results are

known/materialised, if any.

3. Fixed Assets

Fixed assets are stated at cost of acquisition or construction, if any.

4. Depreciation

Depreciation on fixed assets is provided based on useful life of asset as prescribed in schedule II of Companies Act 2013, if

any. Depreciation on additions to the assets and the assets sold or disposed off, during the year is provided on prorata basis, at

their respective useful life or rate of depreciation as prescribed with reference to the date of acquisition I installation or

date of sale I disposal, if any.

5. Inventories

Inventories are valued at lower of cost or net realizable value. Inventories are taken as valued and certified by the

management of the company, if any.

6. Revenue Recognition

Sales are accounted at the completion of work and goods are dispatch to customers and purchases and expenditures are

accounted as and when they are incurred. Sales and Purchases are exclusive of any taxes, if any.

7. Provision for Current Tax and Deferred Tax

Provision for current tax is made after taking into consideration benefits admissible under the provisions of the Income Tax

Act, 1961, if any.


02 Share Capital:

Particulars As At As At

31-03-2019 31-03-2018 (Inf) (Inf)

Authorized : Equity shares 10,000 of Rs.10 Each 100,000 100,000 Issued, Subscribed and Paid up :

Equity shares 10,000 of Rs.10 Each 100,000 100,000

Total f 100,000 100,000

2.1 The Details of Shareholder holding more than S% Shares

Name Of Shareholder As At As At

31-03-2019 31-03-2018

No. Of Shares %Held No. Of Shares %Held

Mangalam Seeds Ltd 10,000 100.00% 10,000 100.00%

Total 10,000 100.00% 10,000 100.00%

2.2 The Reconciliation of No. of shares outstanding is set out below:


31-03-2019 31-03-2018

No. (Inf) No. (Inf)

Equity Shares at the beginning of the 10,000 100,000 10,000 100,000

year

Add: Shares issued during the year - - - -

Equity Shares at the end of the year 10,000 100,000 10,000 100,000

Equity Shares

The company has only one class of Equity having a par value~ 10.00 per share. Each Shareholder is eligible for one

vote per share held. The dividend proposed by the board of directors is subject to the approval of the shareholders

in the ensuing Annual General Meeting, except in the case of Interim Dividend, if any.

In the event of liquidation, the Equity shareholders are eligible to receive the remaining assets of the company

after distribution of all preferential amounts, in proportion to their shareholding.

03 Reserves And Surplus:

Particulars As At

31-03-2019

(Inf)

Profit & Loss A/c

Opening Balance (302,176)

Net Profit/(Loss) for the year/period 20,733

Closing Balance (281,443)

Totalf (281,443)

04 Long Term Borrowings:

Particulars

As At

31-03-2018

(Inf)

(147,796)

(154,380)

(302,176)

(302,176)

As At

31-03-2018

(Inf)

867,330

160,000

1,027,330

Sub Note: 1

The Company has availed an interest free loan of Rs. 867,330/- as on 31st March, 2019 from Mangalam Seeds Limited, i.e. its holding company. The repayment terms has not been decided.

Sub Note:2

The Company has availed an interest free loan of Rs. 1,60,000/- as on 31'1 March, 2019 from Shri Pravin M. Patel , i.e. its Director. The repayment terms has not been decided.

05 Trade Payables:

Particulars As At As At 31-03-2019 31-03-2018

(Inf) (Inf) Creditors for Goods 609,935 609,935

Total f 609,935 609,935

Sub Note: 1

Trade Payables as on 31st March, 2019 have been taken at their book value subject to confirmation and reconciliation and taken on the basis of Certification by the Management.

06 Other Current Liabilities:

Particulars

Other Payables (Refer Sub Note:1)

Total f

Sub Note: 1

Other Payable includes rent payable to the director of the company.

07 Short Term Provisions

Particulars

Provision for Tax

Provision for Expenses Total f

08 Inventories

Particulars

Finished Goods Total f

09 Trade Receivables

Particulars

Unsecured and Considered Good

Outstanding for a period of more than six months

Others Total f

As At

31-03-2019 (Inf)

360,000

360,000

As At 31-03-2019

(Inf)

7,280 5,000

12,280

As At

31-03-2019

(ln·f)

958,346

958,346

As At

31-03-2019 (Inf)

207,902

296,800

As At 31-03-2018

(Inf)

247,965 247,965

As At 31-03-2018

(Inf)

--

-

As At 31-03-2018

(Inf)

1,427,406

1,427,406

As At

31-03-2018 (Inf)

26,274

81,348

Sub Note: 1

Trade Receivables as on 31st March, 2019 have been taken at their book value subject to confirmation and

reconciliation and taken on the basis of Certification by the Management.

10 Cash & Cash Equivalents


31-03-2019 31-03-2018 (Inf) (Inf)

Balances with Banks 267,517 8,451 Cash On Hand 90,673 90,775

Totalf 358,190 99,226

Sub Note: 1 Cash Balance is verified against physical cash available as on 31st March, 2019 with the Company.

11 Short Term Loans & Advances


31-03-2019 31-03-2018 (Inf) (Inf)

CST Deposit - 10,000

VAT Deposit - 10,000

SGST Receivables 3,432 15,924

CGST Receivables 3,432 12,876

Total f 6,864 48,800

12 Revenue from Operations

Particulars For the FY For the FY

2018-19 2017-18

(Inf) (Inf)

Sale of Goods 706,500 72,900

Less:

Rate Difference/Discount Given 74,693 -

Total f 631,807 72,900

13 Other Income


2018-19 2017-18

(Inf) (Inf)

Sundry Balances Written off 56 12,916

Totalf 56 12,916

14 Purchase Of Stock In Trade


2018-19 2017-18

(Inf) (Inf)

Purchases of Goods - 163,438

Total f - 163,438 ~(!~ _·· -·~

15 Changes In Inventories:

Particulars For the FY For the FY 2018-19 2017-18

Inventory at the end of the year

Finished Goods 958,346 1,427,406

958,346 1,427,406

Inventory at the beginning of the year

Finished Goods 1,427,406 1,274,988

1,427,406 1,274,988

(lncrease)/Decrease in Inventories

Finished Goods 469,060 (152,418)

TOTALf: 469,060 (152,418)

16 Finance Costs


2018-19 2017-18

(Inf) (Inf)

Bank Charges - 460

Totalf - 460

17 OtherExpenses


2018-19 2017-18

(Inf) (Inf)

Freight Expenses - 1,300

Legal & Professional Expenses 5,000 5,000

Loading And Unloading Expenses 100 so Miscelleneous Expenses 3,040 -ROC Expenses 6,650 6,650

Packing Expenses - 93,551

Sales Commision Expenses - 2,065

Rent Expenses 120,000 120,000

Printing and Stationery Expenses - 100

Total f 134,790 228,716

18 As informed to us, the Contingent Liability is NIL.

19 All assets and Liabilities are presented as Current or Non-Current as per criteria set out in Schedule - Ill to the

Companies Act, 2013 as notified by Ministry of Corporate Affairs. Based on the nature of operation of the company

and realization from the trade receivables, the company has ascertained its operating cycle of less than 12 months.

Accordingly 12 months period has been considered for the purpose of Current I Non Current classification of assets

and liabilities.

20 Earning Per Share :


2018-19 2017-18

Amount Inf Amount Inf

Basic Earning Per Share 2.07 (15.44)

Diluted Earning Per Share 2.07 (15.44)

Nominal Value Per Share ~ 10.00 """~~10,op r.: J· o:.IH«J/ "

Earning Per share is calculated by dividing the Profit/(Loss) attributable to the Equity Shareholders by the weighted

average number of Equity Shares outstanding during the year. The numbers used in calculating basic and diluted earning per Equity Share as stated below

Particulars For the FY For the FY 2018-19 2017-18

Amount Inf Amount Inf Profit I (Loss) after taxation 20,733 (154,380) Net Profit I (Loss) attributable to Equity 20,733 (154,380)

I weighted Average Number of shares outstanding during the year 10,000 I 10,000 I

21 Related Party Disclosures

Sr. No. Name of the Related

Party

1 Mangalam Seeds Limited

2


Partner

M.No. 165063

Place : Ahmedabad


Pravin M. Patel

Type of

Relation

Holding

Company

Director

Nature of Transactions Amount (Inf)

Trade Payables 414,735 Long term borrowing 867,330

Rent Expenses 120,000

Other Current Payables 360,000

Long term borrowing 160,000

For Mangalam Nutrifeeds Priva Limited


Director

DIN - 03173769

Shri Mafatlal J. Patel

Director

DIN - 03173737

c ,

piyush j. shah -...

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